Alabama Credit Union
501(c)(14)
Only null% goes to programs Strong reserves Growing revenue
Alabama Credit Union is a 501(c)(14) organization based in Tuscaloosa, Alabama, registered in 1941, with $143,233,716 in FY2024 revenue. CharityIndex grades it A.
910 Professional Plz, Tuscaloosa, AL, 35401 EIN 63-0440014 Since 1941
Revenue (FY2024)
$143.2M
▲ 34.8% vs prior year
Expenses (FY2024)
$132.0M
Net assets
$121.7M
Employees
489
CharityIndex rating
One independent A+ to F grade from four published criteria, each scored separately from IRS filings and combined by weight.
A
—Program efficiency40% of the ratingNo expense breakdown in filings
Measures how much of every dollar spent actually reaches programs, plus what it costs to raise $100 of donations. The worse of the two measures sets the letter (85%+ to programs is an A; under $15 to raise $100 is an A), averaged over the three most recent filings. Not scored for Alabama Credit Union— this filing type doesn't report it, and the rating simply skips it (never counts it against the organization). See the exact thresholds →
AFinancial health25% of the rating11 mo reserves · +8% margin
Measures whether the organization is built to last: how many months its reserves would cover expenses (3+ months earns an A-range score, but hoarding 5+ years of budget is capped) and whether it runs a surplus or a deficit. For Alabama Credit Union: 11 mo reserves · +8% margin earns a A on this criterion. See the exact thresholds →
AGovernance25% of the rating5 of 6 checks met
Checks how the organization is run, from its own Form 990: an independent board majority, a board of five or more, conflict-of-interest, whistleblower and document-retention policies, and independently audited financials. The share of disclosed checks that pass sets the letter. For Alabama Credit Union: 5 of 6 checks met earns a A on this criterion. See the exact thresholds →
BTransparency10% of the rating3 of 5 disclosure signals
Counts five disclosure signals: a recent filing, a mission statement, program descriptions, a listed website, and the full expense breakdown. More disclosure, better letter. For Alabama Credit Union: 3 of 5 disclosure signals earns a B on this criterion. See the exact thresholds →
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Mission
To provide thrift opportunities and low cost loans to members
Contact & location
- Address
- 910 Professional Plz, Tuscaloosa, AL, 35401
- City
- Tuscaloosa
- State
- Alabama
- Category
- —
- Subcategory
- —
- Phone
- …
- Website
- …
Financial trends
Revenue grew from $27.0M (FY2013) to $143.2M (FY2024) across 12 reported years.
Financial snapshot
Financial health & position (FY2024)
Liabilities $1.8BNet assets $121.7M
Operating margin
7.9%
Revenue exceeded expenses in the latest fiscal year.
Total assets
$2.0B
Total liabilities
$1.8B
Net assets
$121.7M
Salaries & benefits
$29.4M
22% of expenses
Board members
11
11 independent
Financials by year
| Fiscal year | Revenue | Expenses | Net assets | Total assets | Form |
|---|---|---|---|---|---|
| 2024 | $143,233,716▲34.8% | $131,954,975▲30.2% | $121,705,194▲9.9% | $1,953,300,236▲1.6% | 990 |
| 2023 | $106,263,577▲39.3% | $101,381,357▲60.9% | $110,718,876▲10.7% | $1,922,294,287▲17.2% | 990 |
| 2022 | $76,294,666▲32.0% | $63,024,332▲33.9% | $99,983,859▼12.5% | $1,640,689,087▲17.1% | 990 |
| 2021 | $57,798,045▲17.2% | $47,077,943▲6.8% | $114,224,292▲7.1% | $1,400,922,106▲19.7% | 990 |
| 2020 | $49,302,098▲1.4% | $44,076,231▲2.0% | $106,640,997▲9.5% | $1,170,483,591▲24.6% | 990 |
| 2019 | $48,611,443▲11.1% | $43,225,495▲12.3% | $97,410,137▲9.8% | $939,530,884▲7.2% | 990 |
| 2018 | $43,738,378▲19.6% | $38,495,221▲28.4% | $88,690,489▲11.3% | $876,272,368▲12.9% | 990 |
| 2017 | $36,567,734▲13.7% | $29,983,492▲9.7% | $79,659,231▲9.3% | $776,285,772▲5.2% | 990 |
| 2016 | $32,169,818▲4.7% | $27,322,117▲12.3% | $72,898,621▲4.3% | $737,580,899▲7.3% | 990 |
| 2015 | $30,734,747▲7.1% | $24,330,514▲4.8% | $69,925,400▲7.7% | $687,258,465▲5.0% | 990 |
| 2014 | $28,686,693▲6.2% | $23,207,232▲5.2% | $64,949,123▲16.3% | $654,346,128▲5.6% | 990 |
| 2013 | $27,009,190 | $22,051,610▲10.0% | $55,849,271▲1.2% | $619,553,836▲12.8% | 990 |
| 2012 | — | $20,045,157▲7.8% | $55,160,908▲13.8% | $549,206,142▲14.6% | 990 |
| 2011 | — | $18,593,848▲5.0% | $48,486,479▲21.3% | $479,100,381▲23.6% | 990 |
| 2010 | — | $17,707,543 | $39,969,764 | $387,526,237 | 990 |
Original Form 990 PDFs (the Form column) are served by ProPublica Nonprofit Explorer, as filed with the IRS. Create a free account to download the CSV report.
Leadership & compensation (FY2024)
Highest-paid: Stephen K Swofford — $566,046 (0.43% of total expenses)
| Name | Title | Hours/week | Compensation |
|---|---|---|---|
| Stephen K Swofford | Ceo | 60 | $566,046 |
| Joseph Hardy | President of Acusi | 45 | $535,797 |
| Tommy Cobb | President of Acus Holdings | 45 | $498,990 |
| June Landrum | President | 45 | $356,144 |
| Michael Goodman | Cio | 45 | $353,808 |
| Benson P Bolling | Chief Lending Officer | 55 | $329,082 |
| Eleanor Brown | Cfo | 45 | $314,064 |
| Michael R Shults | Vp of Information Systems | 45 | $298,340 |
| Jim Pennington | Vp, Collections | 45 | $286,987 |
| Elizabeth Cole | Vp of Branch Operations | 45 | $258,579 |
| Brandi Mckinney | Chief Risk Officer | 55 | $220,330 |
| Kelley Porter | Chief Member Experience Officer | 45 | $211,681 |
| Jennifer Browning | Acuis Program Manager | 45 | $209,330 |
| Ajaykumar Gupta | Avp of Network Administration | 45 | $170,113 |
| John Edington | Commercial Lending Director | 45 | $152,465 |
| Casey Taylor | Secretary/treasurer | 1 | — |
| Charlotte Harris | Director | 1 | — |
| Lisa Evans | Director | 1 | — |
| Lynne April | Board Vice Chairperson | 1 | — |
| Marcus Jones | Director | 1 | — |
Top vendors & contractors (FY2024)
| Contractor | Services | Paid |
|---|---|---|
| Apiture LLC | Digital Banking Services | $1,856,799 |
| Fiserv | Payment and Fintech Provider | $1,412,368 |
| Fedcorp Inc | Atm/itm/alarm/tcr Service | $1,089,161 |
| Windstream Services LLC | Telecommunications | $1,072,431 |
| M2 the Agency Inc | Marketing Advertising Service | $662,530 |
Grants made · $73K in FY2024
4 grants totaling $73K in FY2024. All grants made by Alabama Credit Union →
| Recipient | Purpose | Amount |
|---|---|---|
| Uah Foundation | Sponsorship for entrepreneurial professorship | $25,000 |
| West Alabama Food Bank Inc | Pledge for 5 year plan to alleviate hunger | $20,000 |
| Kicks For Kids | Listerhill foundation shoe donation sponsorship at aliceville elementary | $18,000 |
| Southeastern Credit Union Foundation Inc | Promoting economic wellness | $9,747 |
Frequently asked questions
- Is Alabama Credit Union a legitimate nonprofit?
- Yes. Alabama Credit Union is a 501(c)(14) organization registered with the U.S. Internal Revenue Service under EIN 63-0440014, based in Tuscaloosa, Alabama.
- What is Alabama Credit Union's EIN?
- Alabama Credit Union's Employer Identification Number (EIN) is 63-0440014.
- How much revenue does Alabama Credit Union report?
- Alabama Credit Union reported $143,233,716 in total revenue on its fiscal year 2024 IRS Form 990 filing.
- What financial grade does Alabama Credit Union have?
- CharityIndex grades Alabama Credit Union A, based on financial health (reserves and operating margin).
- How much does Alabama Credit Union's highest-paid employee make?
- The highest reported compensation on Alabama Credit Union's latest Form 990 is $566,046, paid to Stephen K Swofford (Ceo).
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Data for Alabama Credit Union (EIN 63-0440014) comes from the IRS Business Master File and e-filed Form 990 returns, via CharityIndex. Figures reflect what the organization reported to the IRS for each fiscal year.